Tag: barracks

Sareb Sells Former Barracks in Es Castell to the Local Government for €2.4M

25 October 2018 – Menorca Info

The Govern, Consell and Town Hall of Es Castell have closed an agreement to purchase the barracks in Plaça Esplanada de Es Castell, Duque de Crillón and Conde Cifuentes. According to reports on Thursday, the payment will be made during the first quarter of next year.

On Tuesday, Sareb, the owner of the properties, confirmed that it was going to accept the economic offer from the Govern, which amounts to €2.4 million. Of that amount, €420,000 will be contributed by the Town Hall of Es Castell, €1 million by the Consell of Menorca, and the remaining €1 million by the Govern.

The agreement specifies that the barracks will be intended for public use given their high historical, heritage and landscape value. The initial plan is for the Govern to carry out the purchase of the warehouses directly from Sareb, to avoid them being used for other purposes.

The executive has already made a provision in the budget for 2019 for the acquisition of this infrastructure.

Ownership of Duque de Crillon will pass to the Town Hall of Es Castell, whilst Conde Cifuentes will be jointly owned by the Govern and the Consell.

Both barracks will be used for public facilities and administrative uses.

Moreover, the agreement provides for the creation of a Monitoring Committee to monitor and control the execution of the commitments made by each institution.

In November, a document will be formalised to sign the agreement and it will be signed before the end of the year. During the first quarter of 2019, the purchase file will be executed and the acquisition will be formalised.

Original story: Menorca Info

Translation: Carmel Drake

Ministry of Defence has Earned €28M from Property Sales since 2012

10 December 2017 – El Economista

The Ministry of Defence has obtained proceeds amounting to €28,382,264.77 in total (since 2012) from the sale of several properties that had been left in disuse in various Spanish autonomous regions and provinces.

That figure is reflected in a response from the Ministry (to which Servimedia has had access) to a question posed by the socialist members of parliament Miguel Ángel Heredia and Zaida Cantera to find out how much money has been obtained from the auction and sale of Ministry buildings from 2012 to date.

In its response, the Ministry of Defence explains that on 25 April 2012, it auctioned a building in Tarifa (Cádiz) that had housed a Residential Property for Non-Commissioned Officers for €1,408,676.99.

Meanwhile, on 5 November 2013, the Ministry sold the building that had housed the Armies’ Cultural Centre along with the property that hosted the Janer Naval Shooting School, both in Cádiz, for €881,880.22 and €6,754,907.15, respectively.

In turn, on 2 July 2015, the Ministry auctioned the building in which the ‘Son Simonet’ barracks used to be located, for €5,550,000; whilst on 5 November of the same year, it auctioned the headquarters of the Residential building for Non-Commissioned Officers in Palma de Mallorca for €6,311,003.07. Finally, on 2 December 2017, it sold a property located on Calle Velázquez, 107, in Madrid (pictured above) for €7,475,797.34.

Original story: El Economista

Translation: Carmel Drake

MoD Sells A Plot Of Land In Mallorca For €5.5M

27 May 2015 – Expansión

The Ministry of Defence is continuing its real estate divestment plan to generate revenue. To this end, the body chaired by Pedro Morenés has closed the sale of a plot of land measuring 14,429 square metres, with more than 25,000 square metres of buildable area, in Cas Capiscol (Mallorca).

Given that the building is owned by the Administration, the Ministry of Defence organised a public auction, through the real estate portal addmeet. The plot of land that is up for sale houses former (army) barracks, spread over several buildings, which have been in disuse since the 1990s.

The Ministry of Defence put this land on the market for €5.318 million. In the end, it has been sold for a slightly higher price: €5.55 million. The winning bid was submitted by a subsidiary of the Catalan real estate company La Llave de Oro. The buildable plot measuring 25,131 square metres may be used for tertiary purposes, i.e. to build offices, hotels and retail buildings. Nevertheless, the general urban development plan where this land is located is currently in the process of being modified.

The Ministry of Defence also own other plots of land in Mallorca, including in Son Busquets, where it has a plot measuring more than 110,000 square metres.

Original story: Expansión (by R. Ruiz)

MoD Opens The Bidding For ‘Campamento’ Land

27 April 2015 – Expansión

Auction worth more than €200 million / The Government is launching an auction process to sell a plot of land measuring 1.5 million square metres in Madrid, where the Chinese millionaire Wang Jianlin wants to construct luxury homes, hotels and casinos.

The Spanish Government has decided to refloat the so-called Operación Campamento just seven months before the general election. Today, the Ministry of Defence, the main owner of the land in the area measuring more than 1.5 million square metres, has officially put the plot, measuring 1,550,576 square metres, up for sale on the real estate portal Admeet.

The land, located in the south-east of Madrid, is the preferred location of the Chinese tycoon Wang Jianlin, owner of the business conglomerate the Wanda Group, to construct a mega-project containing thousands of homes, a retail complex, theme parks and casinos.

Negotiations

Jianlin, who officially closed the purchase of 20% of Atlético de Madrid’s share capital in January, has been negotiating with the Town Hall and Community of Madrid for months, to identify a location for his residential and leisure complex in the capital. Previously, in June 2014, he bought Edificio España from Banco Santander for €265 million, which was his first transaction in the Spanish market.

In January, when he signed the deal to acquire a stake in the Madrid football club, Jianlin took the opportunity to reiterate his interest in acquiring the land that is now up for sale. The plot housed the Ministry of Defence’s barracks in Madrid for many years.

Wang Jianlin is willing to invest €3,000 million in this project. To do that, the first step will be to acquire the land. By law, this purchase must be made through a competitive process since it involves a public asset.

“The interested parties must participate in a transparent and competitive auction process, in accordance with state legislation for the sale of property”, says the advert.

Auction

The auction of the land by the Ministry of Defence will be led by Pedro Morenés. The plot measures around 1.132 million buildable square metres and the vast majority has been marked for residential use (986,710 square metres). Subsidised and non-subsidised housing may be built on the site.

Wanda’s goal is to construct up to 15,000 high-end homes, with prices of around €4,000 per square metre. Moreover, offices, retail spaces and leisure complexes may also be built on the site. Wang Jianlin wants to use this land to create a leisure complex, similar to the ones he has constructed in Asia. For the time being, the Ministry of Defence has only released information about the land, and has not set a date for the auction or specified a minimum price.

Minimum price

However, sources in the sector estimate that the Government may set the minimum price at just over €200 million, an amount that is expected to be surpassed both by Wang Jianlin’s bid, as well as by the bids made by other interested parties.

The seller has not revealed the auction date, which may be determined by the timings of the local and general elections due to be held in May and November, respectively. To date, the current President of the Community of Madrid, Ignacio González, has shown his willingness to collaborate with the Chinese businessman, following the decision by the US billionaire Sheldon Adelson to abandon the Eurovegas project in Alcorcón.

Original story: Expansión (by R. Ruiz)

Translation: Carmel Drake